TNDM Tandem Diabetes Care, Inc. - Common Stock

NASDAQ · Health Care · View on SEC EDGAR ↗
$24.39
Price · Aug 19, 2026
Fundamentals as of Aug 6, 2026

About Tandem Diabetes Care, Inc. - Common Stock Company overview from Wikipedia

Tandem Diabetes Care, Inc. is an American medical-device company that develops and markets insulin pumps, automated insulin delivery systems and diabetes-management software. Headquartered in San Diego, California, its principal pump platforms are the t:slim X2 and Tandem Mobi, both of which use the company's Control-IQ+ software with compatible continuous glucose monitors (CGMs).

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Tandem Diabetes Care, Inc. is an American medical-device company that develops and markets insulin pumps, automated insulin delivery systems and diabetes-management software. Headquartered in San Diego, California, its principal pump platforms are the t:slim X2 and Tandem Mobi, both of which use the company's Control-IQ+ software with compatible continuous glucose monitors (CGMs).

Tandem was founded in 2006 and introduced its first pump, the touchscreen t:slim, in 2012. The company became publicly traded on the Nasdaq in 2013. By the end of 2025 it reported an in-warranty user base of nearly 500,000 people in more than 25 countries and annual sales of $1.015 billion.

History

The company was incorporated in January 2006 as Phluid, Inc. and changed its name to Tandem Diabetes Care in 2008. Former Biosite executive Kim Blickenstaff joined as president and chief executive officer in 2007. Its first product was designed following interviews with pump users and clinicians and used a color touchscreen rather than the button-based interfaces then common on insulin pumps.

The Food and Drug Administration (FDA) cleared the t:slim insulin-delivery system in November 2011, and Tandem began selling it in the United States the following year. In November 2013, Tandem sold eight million shares at $15 each in its initial public offering, raising approximately $108 million after costs.

Tandem began shipping the software-updatable t:slim X2 in 2016. The FDA subsequently authorized versions that displayed readings from the Dexcom G5 and G6 CGMs, and in 2019 classified the t:slim X2 as the first alternate controller enabled insulin pump, a category designed to support interoperable diabetes devices. John Sheridan, previously the company's chief operating officer, succeeded Blickenstaff as president and CEO in March 2019.

The company acquired the diabetes-data application Sugarmate in June 2020. It acquired infusion-set developer Capillary Biomedical for $24.7 million in July 2022 and Swiss patch-pump developer AMF Medical in January 2023. AMF had been developing Sigi, a rechargeable patch pump that used prefilled insulin cartridges; the product remained in development at the end of 2025.

Products and software

t:slim X2

The t:slim X2 is a rechargeable, touchscreen insulin pump with a 300-unit cartridge. It delivers programmed basal and bolus insulin through an infusion set and can receive software updates without replacement of the pump hardware. When used with a compatible CGM and Control-IQ technology, it can automatically adjust insulin delivery. The platform has supported integrations with Dexcom and FreeStyle Libre sensors in different markets.

The t:slim line replaced Tandem's earlier t:flex and t:slim G4 models. The t:slim G4, approved in 2015, combined a Tandem pump with the Dexcom G4 Platinum CGM display.

Tandem Mobi

The Tandem Mobi is a smaller durable pump intended to be worn on the body or carried in clothing. It uses a 200-unit cartridge and is operated principally from a compatible smartphone app, while a physical button can deliver a preset bolus. The FDA cleared the pump in July 2023, and Tandem began its full United States launch in February 2024. The company obtained a CE mark for Mobi in 2025 and subsequently began introducing it in European markets.

Automated insulin delivery

Tandem introduced Basal-IQ in 2018. The feature used predicted CGM values to suspend insulin delivery when glucose was expected to become low and resumed delivery when values recovered.

Control-IQ is a hybrid closed-loop system that uses CGM readings and a model-predictive algorithm to increase, decrease or suspend basal insulin and to deliver automatic correction boluses. Users still program personal therapy settings and normally announce meals. The FDA authorized Control-IQ through the De Novo pathway in December 2019, creating a regulatory category for interoperable automated glycemic controllers. Tandem launched it in the United States in January 2020 as a software update for compatible t:slim X2 pumps.

A revised version, Control-IQ+, broadened supported therapy settings and was cleared in 2025 for adults with type 2 diabetes who require insulin. In the United States, Control-IQ+ is used on both the t:slim X2 and Mobi platforms.

Data applications

The FDA cleared Tandem's t:connect desktop data-management application in 2013. A later mobile version displays pump and CGM information and, on compatible systems, permits bolus delivery from a phone. Tandem Source, introduced in the United States in 2023, is a web platform through which users and clinicians review therapy data. Sugarmate is a separate application for viewing CGM data and receiving customizable alerts.

Clinical evidence

In a six-month randomized trial published in The New England Journal of Medicine in 2019, 168 people with type 1 diabetes were assigned either Control-IQ with a t:slim X2 and Dexcom G6 or a sensor-augmented pump. Mean time with glucose in the target range of 70–180 mg/dL rose from 61% to 71% in the Control-IQ group and remained about 59% in the control group, an adjusted difference of 11 percentage points, or 2.6 hours per day. No severe hypoglycemic events occurred; one participant using the closed-loop system developed diabetic ketoacidosis after an infusion-set failure. The trial was funded by the National Institute of Diabetes and Digestive and Kidney Diseases; Tandem supplied systems and technical support but, according to the publication, did not control the study design, conduct or analysis.

A 13-week randomized trial published in the same journal in 2025 enrolled 319 adults with insulin-treated type 2 diabetes. Time in the target range increased from 48% to 64% with Control-IQ, compared with 51% to 52% in a control group that continued its previous insulin method; the adjusted difference was 14 percentage points. Glycated hemoglobin fell by 0.9 percentage points in the automated-delivery group and by 0.4 points in the control group. One severe hypoglycemic event occurred in the automated-delivery group. The study was funded by Tandem.

Recalls and safety corrections

In 2014, Tandem recalled selected lots of t:slim cartridges because leaks could cause too much or too little insulin to be delivered.

In 2024, the FDA classified a correction of version 2.7 of the iOS t:connect app as a Class I recall. Repeated app crashes and automatic relaunches could increase Bluetooth communication, drain a connected t:slim X2 battery and interrupt insulin delivery. The action covered 85,863 distributed app installations; the FDA reported 224 injuries and no deaths as of April 15, 2024. Tandem released updated app versions and advised users to monitor pump batteries.

In April 2025, the FDA classified a correction of Control-IQ+ software version 7.9 as a Class I recall. A defect affecting 85 pumps could incorrectly interpolate glucose values after gaps in CGM data and cause too much or too little insulin to be delivered. Tandem instructed affected users to turn off Control-IQ+ until the software was corrected.

Later in 2025, Tandem issued two further corrections that the FDA classified as Class I recalls. One covered 171,750 t:slim X2 pumps whose speakers could fail and stop insulin delivery; the company reported 59 injuries and no deaths. The other covered 17,745 Mobi pumps that could falsely detect vibration-motor failure and enter a non-operational state, stopping insulin delivery and CGM sessions. Tandem directed users to install corrected pump software.

Source: Wikipedia, CC BY-SA 4.0 · View on Wikipedia ↗

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TNDM Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range

Price
$24.39
Market Cap
$1.67B
P/E (TTM)
-8.0
EPS (TTM)
$-3.04
Revenue (TTM)
$1.01B
Div Yield
ROE
-141.9%
Debt/Equity
2.0
52W Range
$10 – $30

TNDM Stock Price Chart Daily OHLCV with technical indicators — pan, zoom, and customize your view

10-Year Performance Revenue, net income, margins and EPS trends

Revenue & Net Income $1.01B
10-point trend, +1104.5%
2016-12-31 2025-12-31
EPS $-3.04
7-point trend, -623.8%
2019-12-31 2025-12-31
Free Cash Flow $-30M
10-point trend, +57.7%
2016-12-31 2025-12-31
Margins -20.2%
10-point trend, +92.2%
2016-12-31 2025-12-31

Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?

Metric
5Y trend
TNDM
Peer Median
P/E (TTM)
5-point trend, -101.2%
-8.0
38.5
P/S (TTM)
5-point trend, -89.2%
1.6
2.5
P/B
5-point trend, -56.4%
10.7
4.8
EV / EBITDA
4-point trend, +6.7%
-9.9
Price / FCF
5-point trend, -151.2%
-56.1

Profitability Gross, operating and net margins; ROE, ROA, ROIC

Metric
5Y trend
TNDM
Peer Median
Gross Margin
5-point trend, +0.5%
53.8%
58.7%
Operating Margin
5-point trend, -673.0%
-18.4%
Net Profit Margin
5-point trend, -1012.7%
-20.2%
-12.6%
ROA
5-point trend, -1253.6%
-22.1%
-11.8%
ROE
5-point trend, -3855.0%
-141.9%
-37.7%
ROIC
5-point trend, -903.5%
-41.1%

Financial Health Debt, liquidity, solvency — balance sheet strength

Metric
5Y trend
TNDM
Peer Median
Debt / Equity
4-point trend, +114.6%
2.0
25.5
Current Ratio
5-point trend, -58.6%
2.5
3.5
Quick Ratio
5-point trend, -66.1%
1.9

Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR

Metric
5Y trend
TNDM
Peer Median
Revenue YoY
5-point trend, +44.4%
7.9%
Revenue CAGR 3Y
5-point trend, +44.4%
8.2%
Revenue CAGR 5Y
5-point trend, +44.4%
15.3%

Per Share Metrics EPS, book value per share, cash flow per share, dividend per share

Metric
5Y trend
TNDM
Peer Median
EPS (Diluted)
5-point trend, -1366.7%
$-3.04

Capital Efficiency Asset turnover, inventory turnover, receivables turnover

Metric
5Y trend
TNDM
Peer Median

TNDM Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside

BUY 28 analysts
  • Strong Buy 6 21.4%
  • Buy 11 39.3%
  • Hold 11 39.3%
  • Sell 0 0.0%
  • Strong Sell 0 0.0%

12-Month Price Target

20 analysts · 2026-08-13
Median target $26.50 +8.7%
Mean target $28.55 +17.1%

Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date

Avg Surprise
0.02%
Period EPS Actual EPS Est Surprise
June 30, 2026 $-0.31 $-0.33 0.02%
March 31, 2026 $-0.30 $-0.45 0.15%
Dec. 31, 2025 $-0.01 $-0.08 0.07%
Sept. 30, 2025 $-0.31 $-0.32 0.01%
June 30, 2025 $-0.48 $-0.41 -0.08%
March 31, 2025 $-0.66 $-0.62 -0.04%

Peer comparison (GICS sub-industry) Key metrics vs sector peers

Ticker Market Cap P/E Rev YoY Net Margin ROE Gross Margin
TNDM $1.50B -7.2 7.9% -20.2% -141.9% 53.8%
AXGN $1.54B -96.3 20.2% -7.0% -13.0% 74.3%
BFLY -12.3 19.0% -79.0% -35.9% 46.9%
ATRC $1.97B -164.8 14.9% -2.1% -2.4% 75.0%
LMAT $1.85B 32.2 13.5% 23.1% 15.3% 71.5%
INSP $2.64B 18.9 13.6% 16.0% 19.9% 85.4%
OMCL $2.04B 1132.5 6.5% 0.17% 0.16% 42.5%
KMTS $1.21B -8.5 59.0% -138.4% -62.1% 51.4%
CNMD $1.27B 26.9 5.2% 3.4% 4.6% 54.6%
ENOV $1.52B -1.3 6.7% -52.7% -58.5% 59.8%
ATEC $3.16B -21.9 24.9% -18.8% -792.1% 69.6%

Full Fundamentals All metrics by year — income statement, balance sheet, cash flow

Income Statement 16
Annual Income Statement data for TNDM
Metric Trend 202520242023202220212020201920182017201620152014
Revenue 12-point trend, +1940.8% $1.01B $940M $748M $801M $703M $499M $362M $184M $108M $84M $73M $50M
Cost of Revenue 12-point trend, +1259.6% $469M $451M $380M $388M $327M $238M $168M $94M $64M $61M $46M $34M
Gross Profit 12-point trend, +3480.9% $546M $490M $368M $413M $376M $261M $194M $90M $44M $24M $27M $15M
R&D Expense 8-point trend, +483.0% · · · · $92M $64M $45M $29M $21M $19M $17M $16M
SG&A Expense 12-point trend, +492.4% $445M $390M $353M $336M $262M $205M $166M $105M $86M $83M $79M $75M
Operating Expenses 12-point trend, +706.6% $733M $589M $601M $506M $354M $268M $211M $134M $107M $102M $96M $91M
Operating Income 12-point trend, -147.5% $-187M $-99M $-233M $-93M $23M $-8M $-17M $-45M $-63M $-78M $-69M $-76M
Other Non-op 12-point trend, -243.5% $-13M $7M $13M $-4.0K $-7M $-28M $-8M $-78M $-10M $-5M $-3M $-4M
Pretax Income 12-point trend, -152.1% $-200M $-92M $-220M $-93M $16M $-36M $-25M $-123M $-73M $-83M $-72M $-79M
Income Tax 12-point trend, +6150.7% $4M $4M $2M $2M $335.0K $-2M $149.0K $51.0K $8.0K $-15.0K $10.0K $71.0K
Net Income 12-point trend, -157.4% $-205M $-96M $-223M $-95M $16M $-34M $-25M $-123M $-73M $-83M $-72M $-80M
EPS (Basic) 7-point trend, -623.8% $-3.04 $-1.47 $-3.43 $-1.47 $0.25 $-0.56 $-0.42 · · · · ·
EPS (Diluted) 7-point trend, -623.8% $-3.04 $-1.47 $-3.43 $-1.47 $0.24 $-0.56 $-0.42 · · · · ·
Shares (Basic) 7-point trend, +15.0% 67,285,000 65,451,000 64,969,000 64,146,000 63,000,000 60,990,000 58,507,000 · · · · ·
Shares (Diluted) 7-point trend, +15.0% 67,285,000 65,451,000 64,969,000 64,146,000 64,349,000 60,990,000 58,507,000 · · · · ·
EBITDA 11-point trend, -164.3% $-170M $-83M $-218M $-79M $36M $2M $-11M $-39M $-56M $-73M $-64M ·
Balance Sheet 27
Annual Balance Sheet data for TNDM
Metric Trend 202520242023202220212020201920182017201620152014
Cash & Equivalents 12-point trend, +190.7% $91M $69M $59M $173M $71M $95M $51M $42M $14M $45M $43M $31M
Short-term Investments 12-point trend, +459.6% $202M $369M $409M $444M $553M $390M $125M $87M $479.0K $9M $28M $36M
Receivables 12-point trend, +2062.7% $165M $115M $106M $115M $111M $82M $47M $35M $21M $11M $14M $8M
Inventory 12-point trend, +980.9% $129M $150M $158M $111M $69M $64M $49M $20M $27M $21M $18M $12M
Prepaid Expense 12-point trend, +1539.5% $31M $22M $17M $7M $8M $6M $4M $4M $2M $4M $2M $2M
Current Assets 12-point trend, +581.1% $618M $724M $748M $850M $812M $637M $276M $188M $64M $92M $107M $91M
PP&E (Net) 12-point trend, +564.3% $84M $78M $77M $69M $50M $50M $33M $17M $20M $18M $16M $13M
PP&E (Gross) 12-point trend, +557.5% $157M $141M $129M $125M $100M $89M $63M $43M $45M $38M $31M $24M
Accum. Depreciation 12-point trend, +549.9% $73M $63M $53M $56M $49M $39M $30M $26M $26M $19M $16M $11M
Intangibles 5-point trend, +76.6% $12M $925.0K $3M $5M $7M · · · · · · ·
Other Non-current Assets 12-point trend, +3209.1% $23M $5M $40M $24M $16M $9M $1M $1M $102.0K $107.0K $105.0K $691.0K
Total Assets 12-point trend, +727.6% $881M $968M $953M $1.05B $905M $716M $326M $206M $95M $112M $125M $106M
Accounts Payable 12-point trend, +2314.9% $47M $45M $50M $56M $28M $18M $18M $7M $5M $8M $5M $2M
Accrued Liabilities 12-point trend, +619.6% $21M $18M $13M $10M $9M $5M $8M $4M $3M $2M $2M $3M
Current Liabilities 12-point trend, +1241.5% $243M $247M $195M $165M $132M $104M $99M $66M $36M $31M $27M $18M
Capital Leases 7-point trend, +717.5% $115M $106M $114M $124M $24M $16M $14M · · · · ·
Other Non-current Liabilities 12-point trend, +2900.1% $50M $32M $32M $24M $18M $27M $18M $9M $7M $5M $3M $2M
Total Liabilities 12-point trend, +1298.9% $726M $705M $639M $613M $472M $350M $131M $75M $124M $118M $61M $52M
Long-term Debt 6-point trend, +1063.1% · $349M $285M · · · · · $83M $81M $30M $30M
Total Debt 5-point trend, +928.2% $310M $349M · · · · · · $83M $81M $30M ·
Common Stock 12-point trend, +183.3% $68.0K $66.0K $66.0K $65.0K $64.0K $62.0K $59.0K $57.0K $10.0K $3.0K $30.0K $24.0K
Paid-in Capital · · · · · · · · · · · $303M
Retained Earnings 12-point trend, -403.6% $-1.25B $-1.05B $-952M $-729M $-635M $-659M $-625M $-600M $-478M $-405M $-321M $-249M
AOCI 11-point trend, +69812.5% $6M $-2M $1M $-2M $-616.0K $220.0K $122.0K $-13.0K · $-1.0K $20.0K $8.0K
Stockholders' Equity 12-point trend, +184.3% $155M $263M $314M $440M $433M $366M $195M $131M $-29M $-6M $63M $55M
Liabilities + Equity 12-point trend, +727.6% $881M $968M $953M $1.05B $905M $716M $326M $206M $95M $112M $125M $106M
Shares Outstanding 12-point trend, +188.7% 68,291,000 66,264,000 65,552,000 64,513,000 63,833,000 62,335,000 59,396,000 57,554,000 10,119,000 3,110,000 30,255,000 23,655,000
Cash Flow 15
Annual Cash Flow data for TNDM
Metric Trend 202520242023202220212020201920182017201620152014
D&A 12-point trend, +302.5% $18M $17M $16M $14M $14M $10M $6M $6M $7M $5M $5M $4M
Stock-based Comp 12-point trend, +516.1% $92M $101M $88M $85M $61M $58M $58M $24M $13M $12M $13M $15M
Deferred Tax 9-point trend, +0.00 $0 $0 $0 $0 $0 $-2M $-25.0K $0 $0 · · ·
Amort. of Intangibles 12-point trend, +733.3% $2M $2M $2M $2M $2M $1M $300.0K $300.0K $300.0K $300.0K $300.0K $300.0K
Other Non-cash 11-point trend, +2088.8% $85M $2M $87M $46M $21M $-8M $3M $85M $-13M $5M $-4M ·
Operating Cash Flow 12-point trend, +84.2% $-10M $24M $-32M $50M $111M $25M $42M $-8M $-66M $-61M $-59M $-61M
CapEx 12-point trend, +352.7% $20M $19M $27M $34M $14M $27M $20M $3M $6M $9M $6M $4M
Investing Cash Flow 10-point trend, +597.5% $73M $-23M $-86M $33M $-187M $-296M $-57M $-91M $3M $10M · ·
Stock Issued 11-point trend, -283.7% · $-7M $4M $17M $51M $67M $24M $2M $570.0K $2M $3M $4M
Stock Repurchased 4-point trend, +0.00 $0 $30M $0 $0 · · · · · · · ·
Net Stock Activity 11-point trend, -100.0% $0 $-37M $4M $17M $51M $67M $24M $2M $570.0K $2M $3M ·
Financing Cash Flow 10-point trend, -182.9% $-43M $8M $4M $17M $52M $314M $24M $117M $40M $52M · ·
Net Change in Cash 12-point trend, +123.0% $21M $10M $-114M $101M $-23M $43M $9M $18M $-23M $2M $12M $-93M
Taxes Paid $5M · · · · · · · · · · ·
Free Cash Flow 11-point trend, +54.0% $-30M $5M $-59M $16M $97M $-3M $22M $-11M $-72M $-70M $-65M ·
Profitability 8
Annual Profitability data for TNDM
Metric Trend 202520242023202220212020201920182017201620152014
Gross Margin 11-point trend, +47.5% 53.8% 52.1% 49.2% 51.5% 53.5% 52.2% 53.6% 48.9% 41.0% 28.0% 36.5% ·
Operating Margin 11-point trend, +80.5% -18.4% -10.5% -31.2% -11.6% 3.2% -1.6% -4.6% -24.3% -58.5% -92.6% -94.7% ·
Net Margin 11-point trend, +79.7% -20.2% -10.2% -29.8% -11.8% 2.2% -6.9% -6.8% -66.7% -67.9% -99.1% -99.4% ·
Pretax Margin 11-point trend, +80.1% -19.7% -9.8% -29.5% -11.6% 2.3% -7.3% -6.8% -66.7% -67.9% -99.1% -99.4% ·
EBITDA Margin 11-point trend, +81.0% -16.7% -8.8% -29.1% -9.8% 5.2% 0.50% -2.9% -21.1% -52.1% -86.1% -88.1% ·
ROA 11-point trend, +64.6% -22.1% -10.0% -22.2% -9.7% 1.9% -6.6% -9.3% -81.3% -70.3% -70.4% -62.5% ·
ROE 11-point trend, -15.7% -141.9% -38.4% -70.9% -21.9% 3.8% -9.9% -13.7% -99.4% 416.4% -290.0% -122.7% ·
ROIC 11-point trend, +44.2% -41.1% -16.9% -75.2% -21.5% 5.1% -2.1% -8.6% -34.0% -117.5% -103.8% -73.7% ·
Liquidity & Solvency 4
Annual Liquidity & Solvency data for TNDM
Metric Trend 202520242023202220212020201920182017201620152014
Current Ratio 11-point trend, -36.9% 2.5 2.9 3.8 5.1 6.2 6.1 2.8 2.8 1.8 2.9 4.0 ·
Quick Ratio 11-point trend, -41.2% 1.9 2.2 2.9 4.4 5.6 5.5 2.2 2.5 1.0 2.1 3.2 ·
Debt / Equity 5-point trend, +320.5% 2.0 1.3 · · · · · · -2.8 -13.7 0.5 ·
LT Debt / Equity 5-point trend, +320.5% 2.0 1.2 · · · · · · -2.8 -13.7 0.5 ·
Efficiency 3
Annual Efficiency data for TNDM
Metric Trend 202520242023202220212020201920182017201620152014
Asset Turnover 11-point trend, +74.5% 1.1 1.0 0.7 0.8 0.9 1.0 1.4 1.2 1.0 0.7 0.6 ·
Inventory Turnover 11-point trend, +7.2% 3.4 2.9 2.8 4.3 4.9 4.2 4.9 4.0 2.6 3.1 3.1 ·
Receivables Turnover 11-point trend, +8.0% 7.2 8.5 6.8 7.1 7.3 7.7 8.9 6.6 6.7 6.7 6.7 ·
Per Share 5
Annual Per Share data for TNDM
Metric Trend 202520242023202220212020201920182017201620152014
Book Value / Share 11-point trend, +8.3% $2.27 $3.97 $4.78 $6.82 $6.79 $5.88 $3.28 $2.28 $-2.88 $-0.19 $2.10 ·
Revenue / Share 5-point trend, +38.1% $15.08 $14.37 $11.51 $12.49 $10.92 · · · · · · ·
Cash Flow / Share 5-point trend, -108.4% $-0.14 $0.37 $-0.49 $0.79 $1.73 · · · · · · ·
Cash / Share 11-point trend, -6.8% $1.33 $1.04 $0.90 $2.67 $1.12 $1.52 $0.86 $0.73 $1.35 $1.44 $1.42 ·
EPS (TTM) 8-point trend, +15.3% $-3.04 $-1.47 $-3.43 $-1.47 $0.24 $-0.56 $-0.42 $-3.59 · · · ·
Growth Rates 3
Annual Growth Rates data for TNDM
Metric Trend 202520242023202220212020201920182017201620152014
Revenue YoY 5-point trend, -80.6% 7.9% 25.7% -6.7% 14.0% 40.9% · · · · · · ·
Revenue CAGR 3Y 3-point trend, -43.3% 8.2% 10.2% 14.4% · · · · · · · · ·
Revenue CAGR 5Y 15.3% · · · · · · · · · · ·
Valuation (TTM) 14
Annual Valuation (TTM) data for TNDM
Metric Trend 202520242023202220212020201920182017201620152014
Revenue TTM 12-point trend, +1940.8% $1.01B $940M $748M $801M $703M $499M $362M $184M $108M $84M $73M $50M
Net Income TTM 12-point trend, -157.4% $-205M $-96M $-223M $-95M $16M $-34M $-25M $-123M $-73M $-83M $-72M $-80M
Market Cap 11-point trend, -58.0% $1.50B $2.39B $1.94B $2.90B $9.61B $5.96B $3.54B $2.19B $24M $669M $3.57B ·
Enterprise Value 5-point trend, -57.0% $1.52B $2.30B · · · · · · $92M $696M $3.53B ·
P/E 8-point trend, +31.6% -7.2 -24.5 -8.6 -30.6 627.2 -170.9 -141.9 -10.6 · · · ·
P/S 11-point trend, -97.0% 1.5 2.5 2.6 3.6 13.7 12.0 9.8 11.9 0.2 7.9 49.0 ·
P/B 11-point trend, -82.8% 9.7 9.1 6.2 6.6 22.2 16.3 18.2 16.6 -0.8 -112.8 56.3 ·
P / Tangible Book 6-point trend, -35.7% 10.5 9.1 6.2 6.7 22.5 16.3 · · · · · ·
P / Cash Flow 11-point trend, -154.0% -154.4 98.5 -61.0 57.5 86.3 241.8 84.5 -262.7 -0.4 -10.9 -60.8 ·
P / FCF 11-point trend, +8.6% -50.6 477.9 -33.1 177.2 98.9 -2177.5 158.3 -193.3 -0.3 -9.5 -55.4 ·
EV / EBITDA 5-point trend, +83.7% -9.0 -27.8 · · · · · · -1.6 -9.6 -55.0 ·
EV / FCF 5-point trend, +6.5% -51.2 460.0 · · · · · · -1.3 -9.9 -54.7 ·
EV / Revenue 5-point trend, -96.9% 1.5 2.4 · · · · · · 0.9 8.3 48.5 ·
Earnings Yield 8-point trend, -46.3% -13.8% -4.1% -11.6% -3.3% 0.16% -0.59% -0.70% -9.4% · · · ·

Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years

Income Statement
2025-12-312024-12-312023-12-312022-12-312021-12-31
Revenue $1.01B$940M$748M$801M$703M
Gross Margin % 53.8%52.1%49.2%51.5%53.5%
Operating Margin % -18.4%-10.5%-31.2%-11.6%3.2%
Net Income $-205M$-96M$-223M$-95M$16M
Diluted EPS $-3.04$-1.47$-3.43$-1.47$0.24
Balance Sheet
2025-12-312024-12-312023-12-312022-12-312021-12-31
Debt / Equity 2.01.3
Current Ratio 2.52.93.85.16.2
Quick Ratio 1.92.22.94.45.6
Cash Flow
2025-12-312024-12-312023-12-312022-12-312021-12-31
Free Cash Flow $-30M$5M$-59M$16M$97M

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Institutional owners (13F) 309 filers · $973.6M total · As of June 30, 2026

Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.

Institutional activity — Q2 2026 vs prior quarter
New positions Exited positions Increased Decreased Net shares change
58 (+14 vs prior Q) 41 (+8 vs prior Q) 90 (-2 vs prior Q) 87 (-7 vs prior Q) +10.9M

Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.

Institution Value Shares % of tracked 13F Type
UBS Group AG $78,144,621 5,178,570 8.03% Call option
Sessa Capital IM, L.P. $76,959,000 5,100,000 7.90% Shares
VANGUARD PORTFOLIO MANAGEMENT LLC $64,881,975 4,299,667 6.66% Shares
First Light Asset Management, LLC $51,057,815 3,383,553 5.24% Shares
VANGUARD CAPITAL MANAGEMENT LLC $46,726,728 3,096,536 4.80% Shares
STATE STREET CORP $43,031,338 2,851,646 4.42% Shares
JENNISON ASSOCIATES LLC $35,181,264 2,331,429 3.61% Shares
Paradice Investment Management LLC $30,542,371 2,024,014 3.14% Shares
JACOBS LEVY EQUITY MANAGEMENT, INC $30,277,014 2,006,429 3.11% Shares
Freestone Grove Partners LP $28,159,962 1,866,134 2.89% Shares
Driehaus Capital Management LLC $26,965,770 1,786,996 2.77% Shares
CITADEL ADVISORS LLC $24,321,292 1,611,749 2.50% Shares
GEODE CAPITAL MANAGEMENT, LLC $23,377,674 1,548,856 2.40% Shares
TWO SIGMA ADVISERS, LP $20,616,866 937,983 2.12% Shares
MILLENNIUM MANAGEMENT LLC $19,794,142 1,311,739 2.03% Shares
Woodline Partners LP $19,729,255 1,307,439 2.03% Shares
ArrowMark Colorado Holdings LLC $19,610,753 1,299,586 2.01% Shares
ROYCE & ASSOCIATES LP $13,589,903 900,590 1.40% Shares
GOLDMAN SACHS GROUP INC $10,848,654 718,930 1.11% Shares
Verition Fund Management LLC $10,563,000 700,000 1.08% Shares
ExodusPoint Capital Management, LP $10,439,096 691,789 1.07% Shares
Qube Research & Technologies Ltd $10,318,889 683,823 1.06% Shares
ARROWSTREET CAPITAL, LIMITED PARTNERSHIP $10,075,427 667,689 1.03% Shares
CHARLES SCHWAB INVESTMENT MANAGEMENT INC $9,911,655 656,836 1.02% Shares
Point72 Asset Management, L.P. $9,218,526 610,903 0.95% Shares
Soleus Capital Management, L.P. $8,676,750 575,000 0.89% Shares
TWO SIGMA INVESTMENTS, LP $8,426,392 558,409 0.87% Shares
D. E. Shaw & Co., Inc. $8,391,624 556,105 0.86% Shares
VANGUARD FIDUCIARY TRUST CO $7,410,744 491,103 0.76% Shares
Aberdeen Group plc $6,665,826 441,738 0.68% Shares
FMR LLC $6,311,377 418,249 0.65% Shares
FRONTIER CAPITAL MANAGEMENT CO LLC $5,741,106 380,458 0.59% Shares
BlackRock, Inc. $5,692,461 377,234 0.58% Shares
WELLINGTON MANAGEMENT GROUP LLP $5,589,306 370,398 0.57% Shares
TUDOR INVESTMENT CORP ET AL $5,473,264 362,708 0.56% Shares
DAFNA Capital Management LLC $5,360,089 355,208 0.55% Shares
Cubist Systematic Strategies, LLC $5,331,379 439,158 0.55% Shares
BARCLAYS PLC $4,911,085 325,453 0.50% Shares
Y-Intercept (Hong Kong) Ltd $4,748,114 314,653 0.49% Shares
Alberta Investment Management Corp $4,733,733 313,700 0.49% Shares
EDMOND DE ROTHSCHILD HOLDING S.A. $4,650,738 308,200 0.48% Shares
Quantinno Capital Management LP $4,627,499 306,660 0.48% Shares
KVP Capital Advisors, LP $4,542,090 301,000 0.47% Shares
Point72 Asset Management, L.P. $4,527,000 300,000 0.46% Call option
Meridiem Capital Partners LP $4,500,668 298,255 0.46% Shares
FIRST TRUST ADVISORS LP $4,419,015 292,844 0.45% Shares
Holocene Advisors, LP $4,042,007 267,860 0.42% Shares
SECTOR GAMMA AS $4,030,403 267,091 0.41% Shares
BEACONLIGHT CAPITAL, LLC $4,014,076 266,009 0.41% Shares
ENVESTNET ASSET MANAGEMENT INC $3,560,732 235,966 0.37% Shares
ALGERT GLOBAL LLC $3,557,302 235,739 0.37% Shares
Public Sector Pension Investment Board $3,553,061 235,458 0.36% Shares
Squarepoint Ops LLC $3,280,355 217,386 0.34% Shares
XTX Topco Ltd $3,213,808 212,976 0.33% Shares
Kent Lake PR LLC $3,035,000 250,000 0.31% Shares
Connor, Clark & Lunn Investment Management Ltd. $2,757,109 182,711 0.28% Shares
BANK OF AMERICA CORP /DE/ $2,721,195 180,331 0.28% Shares
Bank of New York Mellon Corp $2,552,609 169,159 0.26% Shares
Jefferies Financial Group Inc. $2,512,319 166,489 0.26% Shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP $2,491,359 165,100 0.26% Put option
RHUMBLINE ADVISERS $2,475,532 164,053 0.25% Shares
Nierenberg Investment Management Company, LLC $2,397,952 158,910 0.25% Shares
Banco Santander, S.A. $2,221,248 147,200 0.23% Shares
MIZUHO MARKETS AMERICAS LLC $2,078,829 137,762 0.21% Shares
Swiss National Bank $2,074,875 137,500 0.21% Shares
Schonfeld Strategic Advisors LLC $1,955,164 129,567 0.20% Shares
FEDERATED HERMES, INC. $1,868,429 123,819 0.19% Shares
BANQUE PICTET & CIE SA $1,695,135 112,335 0.17% Shares
RAYMOND JAMES FINANCIAL INC $1,677,616 111,174 0.17% Shares
AMERIPRISE FINANCIAL INC $1,626,249 107,770 0.17% Shares
CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM $1,615,168 84,255 0.17% Shares
Legal & General Group Plc $1,579,802 104,692 0.16% Shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP $1,573,887 104,300 0.16% Call option
GABELLI FUNDS LLC $1,554,270 103,000 0.16% Shares
JANE STREET GROUP, LLC $1,407,897 93,300 0.14% Put option
Trexquant Investment LP $1,358,975 90,058 0.14% Shares
ALLIANCEBERNSTEIN L.P. $1,342,839 70,049 0.14% Shares
Cinctive Capital Management LP $1,311,412 86,906 0.13% Shares
Universal- Beteiligungs- und Servicegesellschaft mbH $1,281,201 84,904 0.13% Shares
FIDEURAM - INTESA SANPAOLO PRIVATE BANKING S.P.A. $1,280,568 84,862 0.13% Shares
JANE STREET GROUP, LLC $1,241,907 82,300 0.13% Call option
INTECH INVESTMENT MANAGEMENT LLC $1,223,361 81,071 0.13% Shares
NOMURA HOLDINGS INC $1,207,200 80,000 0.12% Call option
NOMURA HOLDINGS INC $1,207,200 80,000 0.12% Put option
CITADEL ADVISORS LLC $1,130,241 74,900 0.12% Call option
JONES FINANCIAL COMPANIES LLLP $1,076,176 66,267 0.11% Shares
PRUDENTIAL FINANCIAL INC $1,063,453 70,474 0.11% Shares
FORMULA GROWTH LTD $1,060,887 70,304 0.11% Shares
Cerity Partners LLC $1,042,185 69,065 0.11% Shares
Susquehanna Portfolio Strategies, LLC $1,039,656 68,897 0.11% Shares
Engineers Gate Manager LP $975,750 64,662 0.10% Shares
BNP PARIBAS FINANCIAL MARKETS $953,854 63,211 0.10% Shares
Summit Trail Advisors, LLC $903,318 59,862 0.09% Shares
Orion Portfolio Solutions, LLC $902,206 47,088 0.09% Shares
VANGUARD ASSET MANAGEMENT, Ltd $879,566 58,288 0.09% Shares
MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. $851,016 56,396 0.09% Shares
MORGAN STANLEY $784,137 51,964 0.08% Shares
AlphaQuest LLC $783,235 35,634 0.08% Shares
Man Group plc $769,243 50,977 0.08% Shares
Advisors Asset Management, Inc. $749,072 20,796 0.08% Shares

Company insiders 30 insiders · 12 officers · 13 directors

Insider Role Last activity Shares owned Buys 12m Sells 12m Net 12m
John F Sheridan PRESIDENT & CEO Aug. 15, 2026 M 160,260 0 0 $0
Leigh Vosseller EVP & CHIEF FINANCIAL OFFICER Aug. 15, 2026 M 52,040 0 0 $0
John Cajigas EVP, CFO & TREASURER May 17, 2017 A 18,353 0 0 $0
Jean-Claude Kyrillos EVP & Chief Operating Officer Aug. 15, 2026 M 30,290 0 0 $0
Shannon Marie Hansen EVP & Chief Legal Officer Aug. 15, 2026 M 31,650 0 0 $0
Elizabeth Anne Gasser EVP, Chief Strategy Officer Aug. 15, 2026 M 1,396 0 0 $0
Susan Morrison EVP & Chief Admin. Officer Aug. 15, 2026 M 52,788 0 0 $0
Rick Carpenter EVP & Chief Technology Officer Aug. 15, 2026 M 32,148 0 0 $0
David B Berger EVP, Chief Legal & Compliance Sept. 3, 2019 M 3,311 0 0 $0
Kim D Blickenstaff Executive Chairman Aug. 29, 2019 S 891,750 0 0 $0
Brian B Hansen EVP & CHIEF COMMERCIAL OFFICER Aug. 27, 2019 M 2,991 0 0 $0
Robert Anacone EVP & CHIEF COMMERICAL OFFICER May 21, 2015 A 2,811 0 0 $0
Douglas A Roeder Director Oct. 15, 2021 J 3,766 0 0 $0
Dick Allen Director Aug. 27, 2019 G 37,000 0 0 $0
Edward L Cahill Director Aug. 13, 2019 M 3,982 0 0 $0
Howard E Greene JR Director Aug. 5, 2019 S 30,000 0 0 $0
Richard P. Valencia Director June 18, 2019 A 3,054 0 0 $0
Christopher J Twomey Director June 18, 2019 A 26,758 0 0 $0
Rebecca B Robertson Director June 18, 2019 A 0 0 $0
Fred Cohen Director Nov. 15, 2018 A 0 0 $0
TREU JESSE I Director Nov. 15, 2016 A 54,390 0 0 $0
Henry Anhalt Director March 10, 2016 A 0 0 $0
Lonnie M Smith Director Nov. 16, 2015 A 149,200 0 0 $0
DOMAIN PARTERS VII L P 10% owner Nov. 19, 2013 J 3,189,058 0 0 $0
DP VII ASSOCIATES LP 10% owner Nov. 19, 2013 J 54,390 0 0 $0
Brian K Halak 10% owner Nov. 19, 2013 J 54,390 0 0 $0
Kathleen K Schoemaker 10% owner Nov. 19, 2013 J 54,390 0 0 $0
Brian H Dovey 10% owner Nov. 19, 2013 J 54,390 0 0 $0
Nicole Vitullo 10% owner Nov. 19, 2013 J 54,390 0 0 $0
BLAIR JAMES C 10% owner Nov. 19, 2013 J 54,390 0 0 $0

Insiders from SEC Form 3/4/5 filings; net = open-market P/S only

Activists & 5%+ owners 3 positions

Investors who filed SEC Schedule 13D — beneficial ownership above 5% with an intent to influence the issuer (activist stakes, board campaigns, M&A). Each row shows the most recent known state of that filer's position.

Filer Filed Stake Status Purpose Filing
KIM D. BLICKENSTAFF, KIM BLICKENSTAFF REVOCABLE TRUST DATED APRIL 15, 2010 ×5 filings Feb. 16, 2018 Initial filing SEC
James J. Bochnowski (“Bochnowski”), David L. Douglass (“Douglass”), Deepika R. Pakianathan (“Pakianathan”), Douglas A. Roeder (“Roeder”) ×4 filings Feb. 13, 2018 Initial filing SEC
HLM Venture Partners II, L.P., HLM Venture Associates II, L.L.C., Edward L. Cahill, Peter J. Grua, Russell T. Ray Nov. 26, 2013 Initial filing Passive investment SEC

Purpose is an automated classification of the filer's own stated purpose (SEC Item 4) — not investment advice. "—" means no clear purpose was stated or the text could not be classified.

ETF ownership Held by 50 ETFs

Weight reflects direct equity holdings (N-PORT) only; leveraged or derivative-based funds may hold additional swap exposure not shown.

Fund Weight Units As of Source
HEAL · Global X Funds 1.18% 17,223 NS May 31, 2026 N-PORT
PSCH · Invesco Exchange-Traded Fund Trust … 0.78% 59,478 SH Aug. 8, 2026 Daily
QQQS · Invesco Exchange-Traded Fund Trust … 0.64% 6,509 SH Aug. 8, 2026 Daily
FYC · First Trust Exchange-Traded AlphaDE… 0.33% 179,298 NS April 30, 2026 N-PORT
IHI · iShares Trust 0.18% 324,317 SH Aug. 8, 2026 Daily
SMDX · Tidal Trust III 0.13% 8,397 NS April 30, 2026 N-PORT
FYX · First Trust Exchange-Traded AlphaDE… 0.12% 72,238 NS April 30, 2026 N-PORT
PRFZ · Invesco Exchange-Traded Fund Trust 0.10% 132,846 SH Aug. 8, 2026 Daily
GSSC · Goldman Sachs ETF Trust 0.09% 54,329 NS May 31, 2026 N-PORT
GINN · Goldman Sachs ETF Trust 0.09% 11,077 NS May 31, 2026 N-PORT
RWJ · Invesco Exchange-Traded Fund Trust … 0.09% 81,431 SH Aug. 8, 2026 Daily
IJT · iShares Trust 0.08% 357,608 SH Aug. 8, 2026 Daily
IWO · iShares Trust 0.08% 629,164 SH Aug. 8, 2026 Daily
XJR · iShares Trust 0.08% 8,089 SH Aug. 8, 2026 Daily
IJR · iShares Trust 0.07% 4,181,530 SH Aug. 8, 2026 Daily
FAD · First Trust Exchange-Traded AlphaDE… 0.07% 16,720 NS April 30, 2026 N-PORT
IJS · iShares Trust 0.06% 267,181 SH Aug. 8, 2026 Daily
VIOO · VANGUARD ADMIRAL FUNDS 0.06% 238,922 SH Aug. 8, 2026 Daily
VIOG · VANGUARD ADMIRAL FUNDS 0.06% 45,678 SH Aug. 8, 2026 Daily
VTWG · VANGUARD SCOTTSDALE FUNDS 0.06% 74,913 SH Aug. 8, 2026 Daily
SAA · ProShares Trust 0.05% 811 NS May 31, 2026 N-PORT
VIOV · VANGUARD ADMIRAL FUNDS 0.05% 63,982 SH Aug. 8, 2026 Daily
IWM · iShares Trust 0.04% 1,781,836 SH Aug. 8, 2026 Daily
ISCG · iShares Trust 0.04% 21,943 SH Aug. 8, 2026 Daily
RSSL · Global X Funds 0.04% 29,414 NS April 30, 2026 N-PORT
VBK · VANGUARD INDEX FUNDS 0.03% 901,467 SH Aug. 8, 2026 Daily
VTWO · VANGUARD SCOTTSDALE FUNDS 0.03% 402,038 SH Aug. 8, 2026 Daily
ITWO · ProShares Trust 0.03% 3,191 NS May 31, 2026 N-PORT
SCHA · SCHWAB STRATEGIC TRUST 0.02% 328,035 NS May 31, 2026 N-PORT
FHLC · FIDELITY COVINGTON TRUST 0.02% 31,511 NS April 30, 2026 N-PORT
VFVA · VANGUARD WELLINGTON FUND 0.02% 12,690 SH Aug. 8, 2026 Daily
VHT · VANGUARD WORLD FUND 0.02% 204,536 SH Aug. 8, 2026 Daily
ISCB · iShares Trust 0.02% 3,030 SH Aug. 8, 2026 Daily
UWM · ProShares Trust 0.02% 2,496 NS May 31, 2026 N-PORT
URTY · ProShares Trust 0.01% 2,526 NS May 31, 2026 N-PORT
WSML · iShares Trust 0.01% 3,938 SH Aug. 8, 2026 Daily
VXF · VANGUARD INDEX FUNDS 0.01% 788,297 SH Aug. 8, 2026 Daily
VB · VANGUARD INDEX FUNDS 0.01% 1,576,723 SH Aug. 8, 2026 Daily
OMFS · Invesco Exchange-Traded Self-Indexe… 0.01% 1,018 SH Aug. 8, 2026 Daily
MSSM · MORGAN STANLEY PATHWAY FUNDS 0.01% 2,689 NS May 31, 2026 N-PORT
HDG · ProShares Trust 0.01% 63 NS May 31, 2026 N-PORT
ONEQ · Fidelity Commonwealth Trust 0.00% 23,304 NS May 31, 2026 N-PORT
TILT · FlexShares Trust 0.00% 2,464 NS April 30, 2026 N-PORT
ITOT · iShares Trust 0.00% 88,007 SH Aug. 8, 2026 Daily
IWV · iShares Trust 0.00% 16,661 SH Aug. 8, 2026 Daily
SCHB · SCHWAB STRATEGIC TRUST 0.00% 39,684 NS May 31, 2026 N-PORT
VTI · VANGUARD INDEX FUNDS 0.00% 2,186,918 SH Aug. 8, 2026 Daily
VT · VANGUARD INTERNATIONAL EQUITY INDEX… 0.00% 51,157 SH Aug. 8, 2026 Daily
VTHR · VANGUARD SCOTTSDALE FUNDS 0.00% 5,414 SH Aug. 8, 2026 Daily
ESGV · VANGUARD WORLD FUND 0.00% 15,253 SH Aug. 8, 2026 Daily